Knowing how to translate between present and future value can be useful when:
A. the benefits and opportunity cost occur at different times.
B. there are benefits and costs occurring at the same time.
C. the current costs are higher than the present benefits.
D. there are no benefits and costs.
A. the benefits and opportunity cost occur at different times.
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An increase in the price a firm receives for its output will lead the firm to:
A. leave output unchanged and earn greater profits. B. reduce output. C. expand output. D. leave output unchanged and earn smaller losses.
On January 1, Derek had CD recording devices valued at $30,000. During the year, the value of Derek's devices depreciated by $20,000. He spent $30,000 on new devices
Derek's net investment was ________ and at the end of the year Derek had capital valued at ________. A) $20,000; $60,000 B) $10,000; $40,000 C) $10,000; $60,000 D) $30,000; $40,000 E) $40,000; $70,000
Most stock market experts agree that monetary policy
A) has virtually no impact on stock prices. B) has a minor impact on stock prices. C) has a significant impact on stock prices. D) is the only determinant of stock prices.
Carolyn's Pottery Shop produces vases that sell for $15 each. Assume that labor is the only input that varies for the firm. If Carolyn hires 10 workers, she can produce and sell 500 vases per week. If she hires 11 workers, she can produce and sell 560 vases per week. Carolyn pays each of her workers $400 per week. Which of the following is correct?
a. For the 11th worker, the marginal profit is $500. b. For the 11th worker, the marginal revenue product is $500. c. The firm is maximizing its profit. d. If the firm is employing 11 workers, then its profit would increase if it cut back to 10 workers.